VC investor Forbion goes public with SPAC on NASDAQ

15 Dec 2021

VC investor Forbion goes public with SPAC on NASDAQ

Dutch VC investor Forbion has raised US-$110 million via the IPO of its own SPAC on NASDAQ.

As of December 10, 2021, Forbion European Acquisition Corp. (FEAC) which is focused on "late-stage" life science companies will be traded on the NASDAQ Global Market under the ticker symbol "FRBNU." Each unit consists of one share of the company's Class A common stock and one-third of a redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of US-$11.50 per share.

In September, FEAC, based in Willmington, Delaware (USA), filed confidentially for an initial public offering. The initial public offering of 11,000,000 units at a price of US-$10.00 per unit was then announced in early December and ran until December 14. UBS Investment Bank and Kempen & Co acted as joint book-running managers.

The company is led by CEO and Director Jasper Bos, who joined Forbion Growth as General Partner in May 2021, and CFO and Director Cyril Lesser, Senior Controller at Forbion. The company plans to leverage the experience of its management team and to target to late-stage opportunities in the life sciences industry in Europe.

FEAC is an integrated entity within the Forbion Growth Fund and is fully part of the fund's portfolio. The FEAC management team works with the support of the Forbion Growth team, which is committed to FEAC's success and takes an active role in sourcing acquisition candidates. As a portfolio company, FEAC benefits from full access to the growth fund's resources and the team's experience.

FEAC was formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, restructuring or similar business combination with one or more companies or businesses. FEAC's efforts to identify a potential business combination opportunity are not limited to any particular industry or geographic region.